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CIPS L4M2 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Legal and regulatory considerations10-15%- Sustainability and ethical requirements
  • 1. Environmental, social, ethical criteria
- Legislation affecting requirements definition
  • 1. Procurement regulations, competition law, standards
Topic 2: Use specifications in procurement and supply20-25%- Types of specifications
  • 1. Output/outcome-based specifications
  • 2. Drawings, samples, brands, technical standards
  • 3. Conformance vs performance specifications
- Advantages and limitations of specification types
  • 1. Risk, cost, flexibility, supplier innovation impact
- Sources for developing specifications
  • 1. Internal stakeholders, technical experts, standards bodies
  • 2. Suppliers, industry benchmarks, regulatory requirements
Topic 3: Market management in procurement and supply20-25%- Evaluate market information sources
  • 1. Industry reports, government data, trade journals
  • 2. Supplier intelligence and market research
- Analyse market structures and competition
  • 1. Impact of market structure on procurement strategies
  • 2. Perfect competition, monopoly, oligopoly, monopolistic competition
- Assess market forces and trends
  • 1. Technological, legal, economic, social factors
  • 2. Supply and demand dynamics
  • 3. Global vs local market conditions
Topic 4: Devise a business case for requirements sourced externally20-25%- Estimate costs and prices for procurement activities
  • 1. Total cost of ownership / whole life costing
  • 2. Cost estimation and budgeting methods
  • 3. Market data sources for cost/price information
  • 4. Direct and indirect costs
- Interpret financial budgets for purchase control
  • 1. Budget performance and variance management
  • 2. Cash flow and cost entries
  • 3. Purpose and structure of budgets
- Influence of business needs on procurement decisions
  • 1. Types of purchase: new, modified rebuy, straight re-buy
  • 2. Procurement's role in developing business cases
  • 3. Impact of business needs on purchase types
- Criteria for creating business cases
  • 1. Costs, benefits, options, alignment, timescales
  • 2. Benchmarking requirements
Topic 5: Stakeholder management in defining needs15-20%- Communicate and consult with stakeholders
  • 1. Methods for gathering requirements
  • 2. Resolving conflicting requirements
- Align needs with organisational objectives
  • 1. Strategic alignment and value contribution
- Identify and classify stakeholders
  • 1. Power/interest matrix and engagement strategies
  • 2. Internal vs external stakeholders

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Updated CIPS L4M2 Exam Questions And Answer

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CIPS Defining Business Needs Sample Questions (Q90-Q95):

NEW QUESTION # 90
When procuring a machinery, at which stage buyer must check whether it is working to the stand-ards set out in the design specification?

Answer: A

Explanation:
Through-life Management involves the life-cycle management of the products, services and activities required to deliver a fully integrated capability to the customer, while reducing the cost of ownership for the customer.
Diagram, table Description automatically generated

Source: Andrew Graves
The installation stage occurs in In-Service Operations. At this stage, the machinery is shipped and installed on the buyer's premises and check to ensure that it is working to the standards set out in the design specification.


NEW QUESTION # 91
What issue is a buyer most likely to experience if the technical specification sent to suppliers as part of a Request For Quotation (RFQ) is insufficient?

Answer: A


NEW QUESTION # 92
Which of the following may allow suppliers free to choose the materials, manufacturing process or delivery process?

Answer: D

Explanation:
The Performance Specifications define what the system being designed must do, and not how it must do it. In this step a list of needs and wants should be created. The needs are customer requirements, while the wants are engineering desires. If a buyer adopts performance specification, the supplier will be free to choose how to make and deliver the product.
A technical specification document outlines how you're going to address a technical problem by designing and building a solution for it.
A design specification is a detailed document providing a list of points regarding a product or pro-cess. For example, the design specification could include required dimensions, environmental fac-tors, ergonomic factors, aesthetic factors, maintenance that will be needed, etc. It may also give specific examples of how the design should be executed, helping others work properly (a guideline for what the person should do).
With conformance specification the buyer says what they want and how they want it and the supplier has to meet this


NEW QUESTION # 93
A procurement manager is requested to source a major component. She needs information on sup-pliers' direct and indirect cost, fixed and variable costs to prepare for negotiations. Therefore, she collects 17 annual reports from potential suppliers who are competing in the same industry. In order to estimate an approximate value of fixed and variable costs in that industry, which of the following technique should be adopted by the procurement manager?

Answer: A

Explanation:
Public annual reports can be a source of information that helps the procurement professional to analyse an industry's cost and revenue using the line of best fit. Line of best fit is one of the most important outputs of regression analysis. Regression refers to a quantitative measure of the relationship between one or more independent variables and a resulting dependent variable. Regression is of use to professionals in a wide range of fields from science and public service to financial analysis.
In this case, by collecting and analysing 17 annual reports, the procurement manager can find the line of best fit which goes approximately through the middle of the data points with an equal num-ber of data points above and below it.
The slope of the line of best fit is the approximate variable costs the industry. The easiest way to calculate it is to take a point at the right-hand end of the line of best fit and note its cost and output levels. Divide the cost by the output and this gives and approximate figure for the cost per unit of output or variable cost. This gives an approximate value for the industry fixed and variable costs.


NEW QUESTION # 94
Which of the following technology is likely to be an innovation in financial sector?

Answer: A

Explanation:
Traditional financial systems operate with a centralised database, usually with a single point of authority. Blockchain technology, on the other hand, allows for a distributed database that holds a growing number of records. Instead of existing in one place, the ledger is continually updated and synchronised across multiple computers in a network. Therefore, any participant in the network with the proper authorisation can view the entire ledger - without relying on an intermediary or any one authority.
Another key feature of blockchain technology is a "smart contract," which is a self-executing protocol that enforces a previously agreed arrangement. For example, a smart contract could trigger an automatic refund under certain conditions or the automatic payment of an agreed commission after a sale. These smart contracts can eliminate delays in traditional Finance processes, while increasing transparency and reducing reliance on middlemen to follow through on their commitments. Moreover, like other parts of a blockchain, smart contracts are immutable, so they can enhance accuracy in the financial statements.
LO 2, AC 2.1


NEW QUESTION # 95
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